Although technology and productivity has
changed much of engineering, many topics are still taught in very
similarly to how they were taught in the 70s. Using a new approach to
engineering economics, Systems Life Cycle Costing: Economic Analysis, Estimation, and Management presents the material that a modern engineer must understand to work as a practicing engineer conducting economic analysis. Organized
around a product development process that provides a framework for the
material, the book presents techniques such as engineering economics and
simulation-based costing (SBC), with a focus on total life cycle
understanding and perspective and introduces techniques for detailed
analysis of modern complex systems. The author includes rules of thumb
for estimation grouped with the methods, processes, and tools (MPTs) for
conducting a detailed engineering buildup for costing. He presents the
estimating costing of complex systems and software and then explores
concepts such as design to cost (DTC), cost as an independent variable
(CAIV), the role of commercial off-the-shelf technology, cost of
quality, and the role of project management in LCC management.

No
product or services are immune from cost, performance, schedule,
quality, risks, and tradeoffs. Yet engineers spend most of their formal
education focused on performance and most of their professional careers
worrying about resources and schedule. Too often, the design stage
becomes about the technical performance without considering the
downstream costs that contribute to the tota1 life cycle costs (LCC) of a
system. This text presents the methods, processes, and tools needed for
the economic analysis, estimation, and management that bring these
costs in line with the goals of pleasing the customer and staying within
budget.